Recently, the New York Times and Wall Street Journal newspaper have reported breaking news that the company Twitter has announced that they have filed to become a publicly traded company. Twitter will be joining the ranks of other publicly-traded social media websites such as Facebook and LinkedIn. The Times article was less technical than WSJ, but WSJ is a newspaper more dedicated to stocks and trading than the Times. Both articles conveyed the same information about Twitter and the incredible profits that will be reached. WSJ concentrated more on the benefits that this sale will have for the stock market as a whole, while the Times concentrated on certain employees of Twitter who will benefit greatly from this sale.
The news that Twitter will become a publicly-traded company is huge. While the Times does have a Stocks and Business section of the newspaper, usually news like this is not featured on the main webpage. However, Twitter is a crucial tool that a majority of reporters use right now, and this IPO will have a large impact on the stock market and the economy. The impact of this sale will affect all of Twitter’s employees, their stockholders, and the stock market as a whole. The only evidence of power monitoring in the Times is how they portray Twitter’s CEO, Dick Costelo, naming him as “an early investor,” in the beginning, to now being “one of a handful of individual investors who stand to reap the rewards of a potential initial public offering of stock in the social network”. The Times mentions other employees who were laid off in the early days and never received any company stock, “as it tried to conserve its cash.” They also talk about many employees that have been bought out: “Many early investors and employees sold hundreds of millions of dollars of stock in 2011 to a Russian investment firm, DST Global, that was eager to buy in.”
There may or may not be information missing from this article. The subject matter right now is a confidential business transaction, with information trickling out of it. This article is a type of reporting on investigations; reporters only have access to information that the company is deciding to reveal. The Times dedicated 1,000 words, while WSJ dedicated 898 words. Both articles were featured on the main webpage.
The subject matter of this article best suited WSJ, so readers can expect a full business-style evaluation with a reporter’s spin on it. However, since there is really no information being divulged, different information is being told than released in the Times article. For example, in the WSJ article it reports that “Twitter has already achieved a valuation of more than $9 billion, as judged by private sales by employees of their stock to BlackRock Inc. BLK +0.90% earlier this year, people familiar with that transaction have said.” This business information and the like were not in the Times article, because of a differing point of view, and different audiences that each newspaper has to cater to.
Overall, the truth of the story is easy to see: Twitter has begun legal proceedings to become a publicly traded company. This is a legal business matter, so information released from it will be carefully chosen by the company. Their overall goal is to make as much money as possible from this transaction. As news is leaked about the overall value of the company and their profits from ad sales, traders will be able to determine how much money to spend on buying stocks from Twitter.